EMI Calculator

Calculate your monthly loan payments with detailed breakdowns. Plan your home loans, car loans, and personal loans.

Introduction

Thinking about taking a loan but not sure what the monthly payments will be? This calculator figures out your EMI (Equated Monthly Installment) for home loans, car loans, personal loans—whatever you need. Type in the loan amount, interest rate, and how many years you want to pay it back, and you get the exact monthly payment plus a full breakdown of how much goes to interest versus principal. Shows an amortization schedule so you can see how the balance drops each year and how much interest you end up paying total. Everything calculates in your browser, so your loan amounts and financial details stay private on your device. Whether you're planning to buy your first home, upgrade your car, finance your education, or consolidate existing debts, understanding your EMI helps you make informed borrowing decisions. The calculator provides complete transparency into the true cost of borrowing by showing not just the monthly payment but also the total interest you'll pay over the entire loan period, helping you compare loan offers and choose tenure options that fit your budget while minimizing interest costs.

Who Should Use This Tool?

Home buyers planning mortgage payments
Car buyers comparing auto loan offers
Individuals considering personal loans
Students planning education loan repayment
Business owners evaluating equipment financing
Debt consolidation seekers
Refinancing candidates comparing options
Financial planners advising clients
First-time borrowers learning about loans
Couples budgeting for major purchases

How This Tool Works

The EMI Calculator uses the standard loan amortization formula: EMI = [P × R × (1+R)^N] / [(1+R)^N-1], where P is the principal loan amount, R is the monthly interest rate (annual rate divided by 12 and converted to decimal), and N is the total number of monthly payments (loan tenure in years multiplied by 12). This mathematical formula ensures that each monthly payment remains constant throughout the loan period while the proportion allocated to interest versus principal changes over time. In the early years of the loan, a larger portion of your EMI goes toward interest because the outstanding principal is high. As you continue making payments and the principal balance decreases, the interest component reduces and more of your EMI goes toward paying down the principal. The calculator instantly computes your monthly EMI and displays a comprehensive breakdown including total amount payable over the entire loan period, total interest charges, and a detailed year-by-year amortization schedule. This schedule shows you exactly how much principal and interest you'll pay each year, along with your remaining loan balance, helping you visualize the loan repayment journey and understand when you'll build meaningful equity in your purchase. All calculations happen in your browser using JavaScript, ensuring your financial information remains completely private on your device without being transmitted to any server.

Try EMI Calculator Now

Use the interactive tool below to get instant results

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All calculations happen in your browser. No data is sent to any server.

Loan Details

Loan Amount (₹)

Principal amount you want to borrow

Interest Rate (% per annum)

Annual interest rate charged by lender

Loan Tenure

Duration to repay the loan

Example Calculation

Loan Amount: ₹10,00,000

Interest Rate: 8.5% per annum

Tenure: 10 years (120 months)

Monthly EMI: ≈ ₹12,400

Total Interest: ≈ ₹4,88,000

Total Payment: ≈ ₹14,88,000

How to Use Emi Calculator

Enter Loan Amount

Type the amount you plan to borrow. Could be ₹5,00,000 for a car, ₹50,00,000 for a house, or whatever you need. Use whole numbers, no decimals. Be realistic about what you can actually afford to repay based on your income.

Set Interest Rate and Tenure

Enter the annual interest rate your lender quoted (like 8.5% or 10.5%). Then pick the loan tenure—how many years you will take to pay it back. Home loans usually run 10 to 30 years, car and personal loans are typically 1 to 7 years. Longer tenures drop your monthly payment but jack up total interest paid.

View EMI and Breakdown

Your monthly EMI shows up immediately. Below that, see the total amount you will pay back (principal plus all interest), total interest cost by itself, and the original loan amount. Helps you understand what borrowing actually costs over the full loan period.

Review Amortization Schedule

Scroll down to the year-by-year table showing how each payment splits between principal and interest, and how your remaining balance shrinks over time. Early on, most of your payment goes to interest. Later, more goes to principal. Useful for seeing when you actually build equity.

Use Cases for Emi Calculator

Home Loan Planning

Figure out monthly payments before applying for a home loan. Try different loan amounts, interest rates, and tenures to see what fits your budget. Helps you figure out how much house you can actually afford based on what you can pay each month and your down payment savings.

Car Loan Comparison

Compare auto loan offers from different banks or dealers. See how a 1% interest rate difference changes your monthly payment and total cost. Decide if you want a shorter loan with higher payments or a longer one with lower payments but more interest.

Loan Refinancing Decisions

Calculate savings if you refinance an existing loan at a lower rate. Compare your current EMI with what a new loan would cost, including any fees. Figure out if refinancing makes sense and how much you save over the remaining years.

Personal Loan Budgeting

Plan personal loans for weddings, medical bills, or consolidating debt. Calculate EMI amounts that will not wreck your monthly budget. Adjust loan size or tenure to find payments you can comfortably handle while getting the money you need.

Pre-Payment Impact Analysis

Check your loan structure before making lump-sum prepayments. Use the amortization schedule to see your outstanding balance at any point. Figure out how much interest you save by paying off loans early or making partial prepayments.

Key Features

Instant EMI Calculation

Monthly payment shows up immediately as you change loan details. Adjust and see results in real time.

Complete Interest Breakdown

See exactly how much interest you pay over the whole loan. Understand total borrowing cost, not just the monthly number.

Year-by-Year Amortization

Detailed schedule showing principal and interest for each year. Track how your balance drops and equity builds.

Multiple Loan Types

Works for home loans, car loans, personal loans, education loans, business loans. One tool for all loan types.

No Registration Needed

Start calculating right away. No accounts, no emails, no personal info required.

Completely Private

Calculations happen in your browser. Loan amounts and financial details never leave your device.

Frequently Asked Questions

How is EMI calculated?

Uses the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N-1], where P is loan amount, R is monthly interest rate (annual rate divided by 12), and N is total monthly payments (years times 12). This formula spreads payments equally over the loan period so you pay the same amount every month.

Why is more interest paid in early years?

Interest gets calculated on whatever principal you still owe. Early on, you owe a lot, so interest charges are high. As you pay down principal, the amount you owe drops, so interest charges drop too. Your EMI stays the same each month, but the split between interest and principal shifts over time.

Should I choose longer or shorter loan tenure?

Shorter loans mean higher monthly payments but way less total interest. Longer loans have lower monthly payments that are easier to manage, but you pay a lot more interest over time. Pick based on your monthly budget and whether you want to minimize interest cost or maximize cash flow flexibility. Consider if your income might grow later.

Are my loan details stored or shared?

Nope. Everything happens in your browser using JavaScript. The loan amounts, interest rates, and financial info you type never get sent anywhere, stored in any database, or shared with anyone. Your financial planning stays completely private on your device.

Can I use this for business loans or credit cards?

Yes for business loans, education loans, or any fixed-rate loan with set principal, interest rate, and tenure. Credit cards do not work well here because they have variable balances and minimum payments instead of fixed EMIs. Use a credit card calculator for those.